Partner with CGAP to Push the Frontiers of Digital Finance

05 December 2016

Woman looks at a mobile phone, Kenya

Photo: Mwangi Kirubi, 2015 CGAP Photo Contest

Does your organization have an innovative idea for a new or enhanced digital financial product or service that meets the needs of low-income customers in Sub-Saharan Africa? If so, CGAP wants to hear from you. We are currently looking to support firms and organizations (Fintech companies, bank and non-bank financial services providers, or other players in the financial services space) by covering the costs of piloting an innovation that:

a) Leverages the attributes of a digital channel (for example, smart and rich user interfaces, two-way real-time interactions, P2P social connections, digital data trails, location-based services, or remote sensing capabilities) to significantly improve the delivery of financial services, expand usage or enhance the customer experience


b) Tests a new financial product, service or use case that addresses a financial need and has a compelling value proposition for the customer relative to existing formal and informal alternatives (for example, helping them to meet funding shortfalls and shocks; making their money work toward education, housing, microenterprises, etc.; or managing risk ex ante)

The application period has closed. The deadline was January 9, 2017.

Is your organization a good fit?

The minimum requirements for an idea to be selected for financing under this facility are:

  1. Fit the description in (a) or (b) above
  2. Be an innovation for the Sub-Saharan market
  3. Be relevant for financial inclusion
  4. Address low-income customers’ needs and behaviors
  5. Have the potential to scale-up
  6. Be fully digital or have a significant digital component
  7. Be ready to start piloting within three months after being selected (pilot should run for no more than 6 months)
  8. Be able to pilot in a country in Sub-Saharan Africa (organizations based in other geographic locations are welcome to apply as long as the end-user in the pilot is in Sub-Saharan Africa)
  9. Have staff that can lead and execute the pilot, and support the monitoring and evaluation during the implementation of the pilot
  10. Have commitment to the project at the highest level within the organization
  11. Be willing to share non-sensitive information during and after the implementation including impact, results, main challenges, key success factors, and lessons learned during the pilot

What is the selection process?

  • Phase I. Applicants will submit expressions of interest form before January 9, 2017.
  • Phase II. Shortlisted applicants will submit a technical and financial proposal by mid-February, 2017.
  • Phase III. Selected applicants will be invited to present their projects in person or via videoconference in March 2017. An expert panel will select the pilots to be financed by CGAP.

Information on impact, results, main challenges, key success factors and lessons learned will be documented by CGAP and disseminated to stimulate demand and help guide future innovation efforts in the sector. CGAP will not disclose information without the consent of the partners and would not publish or disclose sensitive competitive information.

A detailed agreement will be drafted with the selected applicants to outline the roles and considerations around each individual project.

The application period has closed. The deadline was January 9, 2017.

About CGAP

The Consultative Group to Assist the Poor (CGAP) is a global multi-donor partnership dedicated to advancing financial inclusion for the poor. CGAP develops innovative solutions to address barriers to financial inclusion through practical research and active engagement with financial service providers, policy makers, and funders.

Part of CGAP’s efforts aim at driving experimentation on innovative financial solutions leveraging the digital payments rails. Work is undertaken across the demand side (better understanding the needs and behavior of the poor) and the supply side (diverse provider ecosystems) to develop new and improved, viable and scalable business models that bring a broad range of value adding financial services to the poor.